Realty Executives NY: Buy or Rent

You’ve thought about it. Why should I be paying rent when I could own a place of my own. However, you can’t decide if that is the best option for you financially. So what should you consider before making the switch between renter and buyer?

You need to consider the initial costs that come from both renting and buying. How much are you will to pay monthly and how long you intend to stay in your house. These both affect your monthly mortgage payment. The New York Times has a great article with interactive graphs that adjust to how much you intend to pay.